Agenda
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June 29, 2005—Wednesday |
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12:00–1:45 p.m. |
Informal Lunch |
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2:00–2:30 p.m. |
Opening Remarks: |
Agustín Carstens, Deputy Managing Director, IMF and Mario Alonso Icabalceta, President, Central Bank of Nicaragua |
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2:30–3:30 p.m. |
Session 1: Policies to Promote Financial Sector Integration and Stability
Central America's financial systems are becoming increasingly integrated. This process promises major benefits, but also carries important risks. In particular, unless well managed, it could undermine domestic supervision and create additional contagion risks. Harmonizing prudential norms, increasing collaboration among supervisors, and strengthening consolidated supervision will help the region to capitalize on the opportunities that integration has to offer. This session will identify best practices in cross-border coordination and consolidated supervision, and present steps that could be taken toward this goal in the region. |
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Chair: |
Delia Cárdenas, Chairperson-Central American Council of Superintendents of Banks; Superintendent of Banks, Insurance, and other Financial Institutions, Panama |
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Speakers: |
David Hoelscher, Division Chief, and Armando Morales, Senior Economist, Monetary and Financial Systems Department, IMF Regional Issues in Financial Sector Regulation and Supervision in Central America-Main Results of the IMF's Financial Sector Regional Project. |
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Commentator: |
Francisco de Paula Gutiérrez, President, Central Bank of Costa Rica |
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Floor open for discussion | |
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3:30–5:00 p.m. |
Session 2: Panel Discussion: Priorities to Strengthen Consolidated and Cross-Border Supervision
Panel members will highlight the priorities for improving regional cooperation in financial supervision from the perspective of their countries, and discuss the specific proposals for regional cooperation presented in the previous session. |
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Chair: |
Agustín Carstens, Deputy Managing Director, IMF |
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Introductory Remarks: |
Augusto de la Torre, Senior Regional Financial Advisor, World Bank |
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Panel: |
Delia Cárdenas, Chairperson—Central American Council of Superintendents of Banks; Superintendent of Banks, Insurance, and other Financial Institutions, Panama
Hector Manuel Valdez Albizu, Chairperson—Central American Monetary Council and President, Central Bank, Dominican Republic
Francisco de Paula Gutiérrez, President, Central Bank of Costa Rica
María Elena Mondragón, President, Central Bank of Honduras
Luz María Serpas de Portillo, President, Central Bank of El Salvador
Mario Alonso Icabalceta, President, Central Bank of Nicaragua
Lizardo Sosa López, President, Central Bank of Guatemala
Juan De Dianous, General Manager, National Bank of Panama |
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5:00–5:30 p.m. |
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Coffee break |
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5:30–6:30 p.m. |
Session 3: The Impact of the Abolition of Textile and Clothing Quotas on Central America
The textile and clothing sectors are an important source of value added, employment, and foreign exchange earnings in Central America. The recent expiration of the Agreement on Textiles and Clothing (ATC) implies that competition from abroad, especially China and India, is likely to increase. This session will analyze the potential impact of the expiration of ATC and discuss available policy options. |
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Chair: |
Maria Antonieta de Bonilla , Minister of Finance, Guatemala |
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Speakers: |
Calgar Ozden, Economist, World Bank
Hans-Peter Lankes, Division Chief, Policy Development and Review Department, IMF |
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Floor open for discussion |
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7:30–10:00 p.m. |
Reception and dinner |
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Introductory remarks: |
Mario Alonso Icabalceta, President, Central Bank of Nicaragua |
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Keynote speaker: |
Agustín Carstens, Deputy Managing Director, IMF Central America: Global Integration and Regional Cooperation |
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June 30, 2005—Thursday |
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9:30–10:30 a.m. |
Session 4: Coordination of Tax Policy and Administration
As regional integration in Central America progresses, cross-border tax policy and administration issues are becoming increasingly relevant. With revenue mobilization a policy focus in many countries—given tight overall fiscal constraints and large investment and social spending needs—increased regional cooperation can be particularly helpful, for example, in avoiding harmful tax competition and coordinating cross-border tax administration issues. This session will look at the experience with tax coordination in Europe, and suggest a possible agenda for increased cooperation among Central American tax authorities. |
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Chair: |
Charles Collyns, Deputy Director, Western Hemisphere Department, IMF |
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Speakers: |
Donato Raponi, Representative of the European Commission Coordination of Fiscal Policy and Administration. The European Experience. Opportunities and Challenges
Teresa Ter-Minassian, Director, Fiscal Affairs Department, IMF Tax Coordination: An Agenda for Central America |
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10:30–11:00 a.m. |
Coffee break |
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11:00–12:30 p.m. |
Session 5: Round Table Discussion on Priorities for Regional Tax Coordination—What Can be Done?
Ministers of Finance would highlight the priorities for regional tax coordination from the perspective of their countries, and discuss the specific proposals for regional cooperation presented in the previous session. |
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Chair: |
Teresa Ter-Minassian, Director, Fiscal Affairs Department, IMF |
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Panel: |
Mario Arana Sevilla, Minister of Finance, Nicaragua
Maria Antonieta de Bonilla, Minister of Finance, Guatemala
Vicente Bengoa, Minister of Finance, Dominican Republic
Manuel Rosales, Advisor, Ministry of Finance, El Salvador
William Chong Wong, Minister of Finance, Honduras |
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12:30–12:45 p.m. |
Closing Remarks: |
Hector Manuel Valdez Albizu, Chairperson—Central American Monetary Council and President, Central Bank, Dominican Republic and Anoop Singh, Director, Western Hemisphere Department, IMF |
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1:00–2:00 p.m. |
Informal Lunch |
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